The opportunity
The Enabling Resources Program ( ERP' or Program') is a set of projects that will enable key emerging resources, specifically electricity storage, hybrid generation-storage pairings, and small individual or aggregations of dispatchable Distributed Energy Resources into the IESO-administered markets, tools, and processes. The aim of ERP is to allow these resources to more effectively provide required system services and contribute to the safe and reliable operation of the bulk power system in Ontario.
The Program is looking for a Senior Specialist, Market Models with expertise in market algorithms and system optimization to support and introduce changes to our day-ahead market (DAM), pre-dispatch (PD), and real-time (RT) market engines as it relates to storage, hybrid, and distributed energy resources. They will also model and evaluate the impact of changes in the Ontario Electricity market design and/or rules based on key market variables. This role may interact with the external sector, software vendors, and numerous IESO areas such as Enterprise Change, IT, M&R, Settlements and MACD.
The Senior Specialist will lead, and undertake studies, programs or projects related to real or potential impacts based on developments and/or trends in the electricity industry and other energy markets. As well, they will analyze and produce recommendations and reports on the modelling of changes to market design specific to ERP. They will provide guidance, where necessary, regarding the appropriate use and interpretation of information produced by or related to market analysis or research. In addition, they will participate in public stakeholdering of market development recommendations and reports.
What you'll do
- Perform in-depth analysis of the dispatch, scheduling and optimization algorithms that drive the IESO's energy markets (DAM, PD and RT). Evaluate, and propose enhancements to support efficiency, reliability, and transparency of the markets.
- Design and execute studies to assess algorithmic behaviour, pricing outcomes, constraint modeling, and system performance under various market outcomes.
- Maintain a current knowledge on developments and/or trends in mathematical models used in the electricity industry and other energy markets. Peruse academic and technical reports, studies, books, journals etc., dealing with various aspects of energy market models. Keep abreast of technological developments and best practices in the industry as they apply to electricity market models.
- Lead and undertake studies, programs or projects related to real or potential impacts based on developments and/or trends in the electricity industry and other energy markets. Model and analyze changes in Ontario Electricity Market design and/or rules on key market variables. Collaborate within the group towards the provision of guidance and direction to management on the relevance of evaluation results to the Ontario electricity market.
- Develop business processes, models/tools, and procedures to evaluate and estimate impact of changes in the Ontario Electricity Market design and/or rules on key market variables. On an on-going basis, assist in reviewing the effectiveness of existing market analysis and reporting processes, systems and procedures. Work with other internal groups to develop models, application software tools, perform acceptance testing and identify business requirements for computer hardware. Develop and implement effective and efficient improvements, as necessary. Communicate with other IESO staff regarding the appropriate use and interpretation of information produced by, or related to, market analysis or research.
- Interpret technical documentation for various audiences to ensure understanding, alignment with market design requirements and achieve buy-in from audience. This will also include interpreting information into market rules and other supporting market documentation.
- Communicate with public and other internal groups as necessary to respond to requests for data and information, while respecting confidentiality criteria. Participate in public stakeholdering of market development initiatives.
- Provide technical advice, guidance, or written reports, as appropriate.
- Work collaboratively with other members of the Markets division to effectively implement the goals of the team within the context of the broader corporate direction. Mentor team members in areas of market models and design.
- Perform other duties as required.
What you need to succeed
Education:
- Requires knowledge of economics, engineering, operations research or mathematics to conduct market modeling and analytical studies related to the energy industry and the electricity market. Requires deep understanding of the IESO-administered market design.
- This knowledge is considered to be normally acquired either through the successful completion of four years university education in the appropriate field, or by having the equivalent experience.
Experience:
- Requires demonstrated deep understanding of the design and operation of the IESO-administered market, with particular emphasis on the market calculation engine.
- Requires considerable understanding of developing mathematical models for resource dispatch and pricing in wholesale electricity markets.
- Requires a background that allows for broad thinking and analytical and reasoning skills. Requires demonstrated ability to review vast amounts of information, breaking it down, prioritizing and synthesizing it.
- Requires experience in building relationships and strong interpersonal skills. Requires computer experience including exposure to modeling, optimization mathematics, and desktop software applications.
- Requires good technical knowledge of formulating objective functions and constraints for electricity market models. Requires good technical knowledge of optimization techniques. Requires excellent oral and written communication skills to translate technical content for non-technical audiences, as well as prepare reports or other communication material.
- A period of 8 years and up to 10 years is considered necessary to gain this experience.
Independent Electricity System Operator
1600-120 Adelaide Street West
Toronto
Ontario Canada
www.ieso.ca
